Daily Racing Form National Digital Edition
$1.2 million juveniles top strong Fasig-Tipton sale
The top of the North American auction market has been increasingly strong over the past several years, and the Fasig-Tipton Gulfstream select 2-year-olds in training sale displayed that Wednesday with near-record average and median sale prices, led by a pair of $1.2 million juveniles. The buyback rate increased and fewer horses were sold than last year, however, resulting in a drop in gross.
The average and median prices hit their second-highest points in the history of FasigTipton’s Florida select juvenile sale and continued the pattern of growth in each edition since the auction moved to Gulfstream Park in 2015. The average increased 15 percent to $389,746 from $339,392, while the median increased 9 percent to $295,000 from $270,000.
The average trailed only the all-time high average of $403,812, set in 2006, the year The Green Monkey brought a record $16 million. The median tied the record of $295,000, set in 2013.
The boutique auction finished with 59 horses sold for revenues of $22,995,000, down 9 percent from last year’s edition, when 74 horses changed hands for $25,155,000.
One of the main factors for the lower gross was the buyback rate of 35 percent, more typical of the select Gulfstream sale compared with an unusually low 15 percent in 2017.
“There’s demand for horses, but you need to be realistic with your valuation and you need to be realistic with yourself on how your horses perform on the racetrack, and its physical conformation, its appearance in the barn area, and how it vets,” Fasig-Tipton president Boyd Browning said. “The market’s healthy. It’s not exuberant, and it’s not crazy.”
Three horses broke the sevenfigure threshold Wednesday, the same as in 2017. The number of transactions at $750,000 or above rose to nine from seven, while sales of $500,000 or more grew to 19 from 16.
Two horses tied for the sale’s highest price of $1.2 million.
Barbara Banke’s Stonestreet Stables struck first, buying a Medaglia d’Oro filly out of the stakes-placed Distorted Humor mare Mi Vida.
The dark bay or brown filly is a sibling to two runners, including one winner. Bred in Kentucky by Don Alberto Corp., she is from the family of Grade 1 winners Majestic Warrior, Dream Supreme, and Spinning Round, as well as Peruvian champion Kung Fu Mambo and Argentine Group 1 winner Sweet Sorrel.
The purchase was familiar territory for the Stonestreet operation, which campaigned the Medaglia d’Oro filly Rachel Alexandra to Horse of the Year honors in 2009.
“I like Medaglia d’Oro fillies,” Banke said. “I’ve had very good luck with them. I actually have two really good ones back at our training center – one out of Kauai Katie, and one out of Fully Living – and this will be a third. I love them to race, and I love them as broodmares.”
Banke said the filly would be sent from the sale to the Stonestreet Training Center in Summerfield, Fla., and a decision on a trainer would be made at a later time. While the ticket was signed solely for Stonestreet Stables, Banke said Jamie Roth of LNJ Foxwoods had discussed partnering on the filly prior to the sale.
Niall Brennan Stables consigned the filly, as agent. She breezed an eighth of a mile in 10 seconds during the presale under-tack show to tie for the fastest time at the distance.
Larry Best of OXO Equine landed the other co-topper, an Into Mischief colt.
The bay colt is the second foal out of the winning Lawyer Ron mare Assets of War, whose first foal is the stakes-placed Aerial Assets, also by Into Mischief. Bred in Kentucky by Stoneway Farm, his extended family features Grade 1 winners Book Review and Irish Smoke, Grade 3 winners Added Asset and Added Elegance, and Peruvian champion Mr. Ninja.
Eddie Woods consigned the colt, as agent. The colt also tied the fastest time for an eighth of a mile at 10 seconds.
“I loved it,” Best said about the under-tack show effort. “Very strong breeze, very strong horse. Eddie Woods does a nice job with breaking in horses, and it adds to the comfort value that I know Eddie has managed the horse up to now.”
Best said the colt would be sent to trainer Jerry Hollendorfer.